Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS) Hits New 1-Year Low – Time to Sell?

Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $9.80 and last traded at $9.81, with a volume of 327037734 shares trading hands. The stock had previously closed at $11.51.

Direxion Daily Semiconductors Bear 3x Shares Trading Down 16.5%

The company has a fifty day moving average price of $30.20 and a 200 day moving average price of $47.92.

Hedge Funds Weigh In On Direxion Daily Semiconductors Bear 3x Shares

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew its holdings in shares of Direxion Daily Semiconductors Bear 3x Shares by 114.0% during the fourth quarter. Toronto Dominion Bank now owns 11,743 shares of the company’s stock valued at $36,000 after purchasing an additional 95,743 shares during the last quarter. IFP Advisors Inc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $43,000. Game Plan Financial Advisors LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the third quarter valued at approximately $45,000. Nwam LLC bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $56,000. Finally, Marex Group plc bought a new position in shares of Direxion Daily Semiconductors Bear 3x Shares during the fourth quarter valued at approximately $63,000.

Direxion Daily Semiconductors Bear 3x Shares Company Profile

Direxion Daily Semiconductor Bear 3x shares seek daily investment results of 300% of the inverse (or opposite) of the price performance of the PHLX Semiconductor Sector Index (Semiconductor Index). The Semiconductor Index measures the performance of the semiconductor subsector of the United States equity market. Component companies are engaged in the design, distribution, manufacture and sale of semiconductors. As of February 18, 2010, the Semiconductor Index included companies with capitalizations between $1.7 billion and $114 billion.